
Financial Times: The venture capital industry structurally discriminates against minorities. That statement should provoke alarm, but most people that work in the technology ecosystem have come to accept it. [Full article available to Financial Times subscribers.]
Bloomberg: A group of former Morgan Stanley employees is asking the Wall Street firm to release them from confidentiality agreements so they can tell their stories of alleged racial discrimination at the bank.
Bloomberg: The Italian oil company Eni SpA will set a goal of reaching net-zero emissions in its European operations by 2050, Chief Executive Officer Claudio Descalzi told Bloomberg in an interview. In doing so, Eni will become the fifth oil major to have made a similar pledge within the past year. (Repsol SA, BP Plc, Royal Dutch Shell Plc and Total SA got there first.)
Pensions & Investments: Ceres says companies addressing the systemic risk of climate change should make sure their lobbying activity is compatible.
Institutional Asset Manager: Global exchanges are making the most of growing investor demand for sustainable products and ramping up their provision of ‘green’ bonds, making them the most commonly offered ESG investments for the first time.
Financial News: Fund managers are paying more attention to social considerations, such as labour rights and diversity, than they were prior to the outbreak of coronavirus.
Financial Times: In recent years, some investors have felt so irritated by the pious tone of the environment, social and governance sector they have joked that the ESG acronym should stand for “eye-roll, sneer and groan”. [Full article available to Financial Times subscribers.]
World Bank Blog: The COVID-19 pandemic has changed the way we live and work, throwing so much about the future into doubt. Amid the crisis, governments, financial institutions and investors are focused on the immediate challenges of saving lives and businesses and minimizing long-term market disruption.
Institutional Investor: Before asset managers can successfully invest in companies according to environmental, social and governance principles, they need to get their own houses in order. But such a cultural reset takes a big investment in time and money.
Citywire Selector: The future may well be green for passives. With ETF giant BlackRock nailing its colours to the ESG mast, the sheer volume of assets allocated to ESG via passive strategies is likely to skyrocket in the not-too-distant future.
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